Royce & Associates LP Cuts Stake in KKR & Co. Inc. (NYSE:KKR)

Royce & Associates LP lessened its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 40.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,138 shares of the asset manager's stock after selling 13,057 shares during the quarter. Royce & Associates LP's holdings in KKR & Co. Inc. were worth $2,499,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc raised its holdings in KKR & Co. Inc. by 622.9% during the second quarter. Versant Capital Management Inc now owns 253 shares of the asset manager's stock worth $27,000 after acquiring an additional 218 shares in the last quarter. Mather Group LLC. raised its holdings in KKR & Co. Inc. by 371.4% in the 2nd quarter. Mather Group LLC. now owns 264 shares of the asset manager's stock valued at $27,000 after acquiring an additional 208 shares during the period. ORG Wealth Partners LLC bought a new position in shares of KKR & Co. Inc. during the third quarter worth approximately $31,000. Raleigh Capital Management Inc. increased its position in KKR & Co. Inc. by 56.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 235 shares of the asset manager's stock worth $31,000 after buying an additional 85 shares during the period. Finally, Eastern Bank acquired a new stake in KKR & Co. Inc. in the 3rd quarter worth about $34,000. 76.26% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were purchased at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the purchase, the insider now owns 92,959,984 shares of the company's stock, valued at $1,034,644,621.92. This represents a 14.29 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares of the company's stock, valued at $650,470,003.25. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 39.34% of the company's stock.

Analyst Ratings Changes

KKR has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on KKR & Co. Inc. from $158.00 to $159.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Hsbc Global Res raised KKR & Co. Inc. to a "strong-buy" rating in a research note on Wednesday, September 18th. Redburn Atlantic began coverage on shares of KKR & Co. Inc. in a research report on Tuesday, August 27th. They set a "buy" rating and a $153.00 price objective for the company. Morgan Stanley boosted their target price on KKR & Co. Inc. from $107.00 to $143.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price target on KKR & Co. Inc. from $139.00 to $152.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $154.14.

KKR & Co. Inc. Trading Down 0.4 %

Shares of NYSE:KKR traded down $0.67 during trading on Wednesday, reaching $152.11. 2,091,376 shares of the company were exchanged, compared to its average volume of 4,246,148. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07. The business's fifty day simple moving average is $137.54 and its 200-day simple moving average is $120.31. The firm has a market capitalization of $135.11 billion, a PE ratio of 46.43, a P/E/G ratio of 1.20 and a beta of 1.61. KKR & Co. Inc. has a 12-month low of $67.64 and a 12-month high of $156.54.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The asset manager reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.35. KKR & Co. Inc. had a net margin of 13.21% and a return on equity of 5.77%. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the company earned $0.73 EPS. On average, research analysts anticipate that KKR & Co. Inc. will post 4.12 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Monday, November 4th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, November 4th. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 21.28%.

About KKR & Co. Inc.

KKR & Co Inc is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.